Cryptos on the Verge of Crossing the Tipping Point as 9% of Europeans Say They Hold Digital Currencies – Trustnodes

Cryptos on the Verge of Crossing the Tipping Point as 9% of Europeans Say They Hold Digital Currencies


Cryptos are on the verge of crossing the tipping point into mainstream adoption with a survey of 15,000 individuals finding 9% of Europeans hold cryptocurrencies.

The figure stands at 8% for America and 7% for Australia with Spain, Poland, Romania and Turkey having already crossed the 10% threshold.

According to a 2011 study “when just 10 percent of the population holds an unshakable belief, their belief will always be adopted by the majority of the society.”

With the survey finding almost all of Europe has crossed the threshold regarding whether they expect to own cryptos in the future.

In some of the most remarkable crypto stats we have seen, half of Turkey, a quarter of Britain and 30% of America thinks cryptos are “the future of spending online.”

About as much think it is the future of investment with an equal number thinking cryptos will rise in value in the next 12 months.

The majority of Europe, at 54%, think cryptos are less risky or as risky as the stock market. An incredible 37% think digital currencies like bitcoin or eth are less risky or as risky as government bonds.

They do not provide a breakdown by country for the attitudes towards risk, so we can not see whether there is any outlier like Greece, but with global government debt rising to $60 trillion, perhaps it is no wonder so many of them think cryptos are less risky.

Perhaps more surprising is the fact the majority think cryptos are less risky than stocks. By that they might mean a company can go bankrupt, but something like bitcoin or ethereum is just a global network so can’t be mismanaged like a company.

Which all suggests the public is a lot more informed than we though. The vast majority of them, at 66%, have heard of cryptocurrencies, and plenty of them seem to consult specialist websites.

With the biggest takeaway of it all being that cryptos are now seemingly about to enter mainstream adoption in holdings as that 10% threshold is just about met ten years on since bitcoin’s invention.



Comments (2)

  1. Two little observations:
    1) The cited study is theoretical, understandably somehow crude in the modeling of the changing of opinions (the mechanism is some sort of “peer pressure”), it doesn’t consider polarization (but I don’t think this is a real problem in this case) BUT the truly important point in my opinion is the assumption about “unshakable belief”. I don’t know if we can classify this 9% of European owners of cryptos as “unshakably, true believers”. I am one of them because I own cryptos but every single day I doubt my choice (especially in the last month 🙁 !!! ).

    2) Bitcoin HAS BEEN in some way mismanaged by Bitcoin Core, or at least it seems this is the opinion of Trustnodes itself. I know it’s not the same thing as the mismanagement of a company, that it is always possible to fork, that we have BitcoinCash, etc etc. But I don’t know if cryptos are, in the real world, as much resilient as we like to think.

  2. The price fluctuations and speculations have a great side effect of getting crypto among general population.

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